About this Show

Forbes on FOX

News/Business. Financial analysts offer advice on the markets. New. (CC)

NETWORK

DURATION
00:31:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Channel v760

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Opec 7, Ted 6, Maxwell 4, United States 3, Google 3, Polaris 3, Benghazi 2, Morgan 2, Pickering 2, The Irs 2, U.s. 1, Sarah Hall Graham 1, Monte Hall 1, Dave Asman 1, Theis 1, Michelle 1, Bush 1, Union Pacific 1, America 1, Nausea 1,
Borrow a DVD
of this show
  FOX News    Forbes on FOX    News/Business. Financial analysts  
   offer advice on the markets. New. (CC)  

    May 18, 2013
    8:00 - 8:30am PDT  

8:00am
i like it just fine. i like the index sdy dividend part of the standards and poors. >> the stores are wreck? what did he mean by that. that will do it? >> if you are outraged by the evidence coming out that of the irs was being used as an idea logical enforcer, you may be outraged that some of those responsible for paid bonuses at work with your tax dollars. i am dave asman. what a week. we'll go with moshing an and mike and sabringa and rick. >> rick, this is usually steve forbes job but do you believe that the individuals who skewed up deserve bon us.
8:01am
>> i feel the need to talk flat tax. i think the bonus idea is a bad idea particularly as it a ployed to the irs. remember when we have had a situation with private insurance companies and they are bonusing adjustors and paying them to deny claims. i have a similar problem with irs agents paid to collect more money. i tell you the great surprise. >> or just screw up. >> or screw up. you know who favors bonusing the federal -- the heritage foundation. >> you are an agent of the heritage foundation? >> i have been accused of many. from james, the senior economist. we should shift the distribution from base pay to bonus.
8:02am
>> mike, lois learner who was in charge of the tax exemption got a $42,000 bonus or several bonuses adding up to 42,000. show gave on the a bunch of information that was not true. and her predecessor got bonuses and all told $92 million in bonuses went out to irs officials, isn't that wrong? >> you are trying to get us audited on the show today. >> they got your number and mine. i agree with the heritage foundation, in general government employee play should shift to bonus with strict performance metric and they would perform better. as far as the irs, they don't deserve it. >> i am looking around for and kind of metrics in which someone
8:03am
behaved well and i don't see it. >> we are not in a market and there is not a competiter for those in government and so what are they judged on? on the number of conservative groups that they muzzle? >> i like the make government employees less effective and i don't want them to be more active. i don't understand how he base $92 million worth of bonuses, that is concerning to me. >> it is not only the cash and bonuses, but getting bumped up. they give awards to the people involved in this. sarah gram hall, and they will talk about this in the next half-hour. she is managing the irs role for obama care. >> i think we are mixing this up. a now bad eggs that got bonuses. i don't think everyone should
8:04am
have it axed altogether. there is a plan and a legislation to cap the bonuses. this is slightly dated here. and i think you need to have bonuses in many cases to the government are tied to the performance. and you need to have that to be competitive with the private sector. >> but look at the people who got bonuses. first of all mismanagement and whatever it was, they all got bonuses and it was a matter of course here. >> i have to say in the case of miss learner, i have a funny feeling she might be out of work. >> or sarah hall ingram. >> and it is truly extraordinary week sabringa and i have agreed which never understand.
8:05am
all around bonusing in the federal government doesn't make sense. if they do a bad job get rid of them. >> but sabringa, what bothers me about the whole thing, everything was a matter of course. this is just the way they did business and of course, the president bumped up sarah hall graham and appointing her as part of the irs obama care role. the social contract between the people who pay taxes and the government has been broken by this scandal. is the president capable of fixing it? >> i think that is the issue here, we have a serious trust issue and the president is trying to distance himself and because it is happening in the walls of the white house, that he is immune from the blame. but theis, he sets the tone for the sxhrgz the massive
8:06am
big government and regulatory state, it is his responsibility. he has a lot of healing to do with the american people who say i will not give bonuses to these people. i don't think a burrcrat in cincinnati woke up and said i will go after the tea party group. >> that is an interesting point and stephen miller who was under the grill spoke to this point. we have a sound bite where whether it was mismanagement or partisanship. >> i don't believe that partis anship motivated the people engaged in the practices described in the attorney general report. >> this is a definition of partisanship. when you single people out on the basis of their ideology. >> the problem is with big and growing government and
8:07am
particularly when the president obama of the united states is a fan of big government. this is what you get. you have scandal with benghazi and the less accountability. ngo a head morgan. >> it is not a partisan issue but an issue of political donations and whether the names get revealed. >> i don't care who the president is under these circumstances, the irs is clearly dysfunctional and lois lernor was promoted under president bush. gang, we have to wrap it at that. and if the irs played politics with these groups, what about enforcing the president's health care law? that's what michelle batch batch
8:08am
wants to know. new numbers showing that america could throw opec to the curve if it does one thing. something as bold as what jfk did. and how much money it will save you next. >> i believe that this nation should commit itself to achieving the goal before this decade is out of landing a man on the moon and returning him safely to the earth. both maxwell and ted have hail damage to their cars. ted is trying to get a hold of his insurance agent. maxwell is not. he's on geico.com setting up an appointment with an adjuster. ted is now on hold with his insurance company. maxwell is not and just confirmed a 5:30 time for tuesday. ted, is still waiting. yes! maxwell is out and about... with ted's now ex-girlfriend. wheeeee! whoo! later ted! online claims appointments. just a click away on geico.com.
8:09am
of mild to moderate alzheimer's disease is exelon patch. now with more treatment options, exelon patch may improve overall function and cognition. your loved one can get a free 30-day trial. and you can have access to nurses. it does not change how the disease progresses. hospitalization, and rarely death, have been reported from wearing more than one patch at a time. the most common side effects are nausea, vomiting, diarrhea, fall, loss of appetite or weight, application site redness, and urinary tract infection. the likelihood and severity of these side effects may increase as the dose increases or if patients weigh less than 110 pounds. people at risk for stomach ulcers who take certain other medicines should talk to their doctor as serious stomach problems such as bleeding may worsen. patients may experience slow heart rate. free trial offer for them. nurses to talk to for you. visit exelonpatchoffer.com. ♪ learn le can lie on one of those"
8:10am
we provide the exact individualization that your body needs. the sleep number memorial day sale. not just ordinary beds on sale, but the bed that can change your life on sale. the sleep number bed. this is your body there. you can see a little more pressure in the hips. take it up one notch. oh gosh, yes. you get that moment where you go, "oh yeah" ... oh, yeah! ... and it's perfect. they had no idea that when they came to a sleep number store, we were going to diagnose their problems and help them sleep better. and right now save on the closeout of our classic special edition bed set. just $1299-a savings of $600-and discover the only memory foam bed with dual air adjustability. once you experience it, there's no going back. wow. don't invest in a mattress until you find your sleep number setting. sale ends june 2nd. only at the sleep number store. sleep number. comfort individualized
8:11am
>> hi, everybody. i am jamie colbee. a top republican is demanding more answers to the benghazi a tashing. darril issa wants a closed door meeting with pickering to find out how it was done.
8:12am
pickering prefers to testify in public. the congressman wants the closed door session first. $2 and a dream. that's all it takes to win the power ball drawing. people waiting for hours to get their tickets. it is the largest power ball ever and jackpot in u.s. history. it could hit a billion dollars and remember you have until 9 o'clock p.m. to buy the ticket. good luck everybody. i am jamie colbow. see you at 1 o'clock eastern. and bab to forbes on fox. >> a now stunning report. the united states is on track to take on opec as the world provider of oil supplies. new reports showing that the areas in the dacottas and montana have twice the oil and gas reserve. the administration is reducing
8:13am
restrictions on fraccing. you say we have to go all in? >> we have to let industry go all in. the mistake is to allow government get involved. the government needs to get out of the way and stop picking winners and losers and let industry decide where technology and industry goes. that is the surist path to energy and better environment. >> rick, you can have national goals. remember jfk saying i will put a man on the moon in ten years. we did it. the united states did it and the government was entirely involved in that. but what is the private sector goal? >> i have no objection to taking advantage of the opportunity. if we are a world force that is a wonderful thing.
8:14am
where i get nervous about the all in. there are down sides to this kind of energy. i recognize it will produce jobs and benefit our jobs. but don't lose sight for the long-term. here's what i propose, make it easier for the development of the oil shelves. but in return ask the energy producers to get involved in developing better sources of energy. >> rick, i realize, monte hall, let's make a deal. >> somebody out there. >> mike, this is how important this report is. here's what they said. you can't overemphasize this. the supply shock created by a surge in north american oil production will be transformative to the market in
8:15am
the next five years as was the rise of chinese demand in the last 15 years. we have the potential of overtaking opec. >> i agree with sabringa. get the government out of the way and unleash the private sector. i don't like the goal of overtaking opec, but what if oil goes back to $17 a barrel. just unleash the private sector, david, they will do a far better job than the government will. we'll see all of the lousy investments and tax on solyndra. >> i do like focusing on opec. since the 1970s, we have been in the beck and call of opec. it is nice to put them as a minor inconvenience than a major inconvenience if our
8:16am
lives. >> it is a gutsy goal. mike hit the nail on the head. unleash the private sector. we are talking about recession years, when you look at that. traditional energy created 500,000 jobs and if government got out of the way, you would see those numbers go crazy. this is the way of the future. >> rick, you hear morgan talking. and she's disagreeing with you. >> i don't disagree she is smartest one in the group. but be more specific about getting the government out of the way. are you saying remove the regulations on the oil. >> hold on, let morgan explain what you mean by. that >> every time president obama talks about the bad evil oil companies and cutting the tax
8:17am
subsidies, that pushes back against the private companies saying that. >> rick, can can you go that far. we are trying to sell you. >> i see where you are going. you can't totally get government out because of the federal land involved that people want to drill. again, i am going to take you to the grand bargain, you want to open up more federal land, okay. oil companies do something about producing. >> but hold on, sabringa there is a fact most significant old and gas discoveries are not on federal lands but state and private lands. i am 0 to let the facts come in an argument here and that's why the federal government is holding up the process through the epa. if they got the epa out of the way for the nonsense regulation, we could beat opec.
8:18am
>> and the fraccing, there is so much alarmism a round this and we are talking about injecting water and food based chemicals. we saw the governor of california drink it. and there is a methodology that is used over decades. we don't want american people to think that the water is contaminated because of this. that is coming from the white house. >> the chief rhetoric and the winner in the rhetoric against carbon fuels was the head of the energy department and the new guy is more sympathetic to your views. we find progress here. thank you, gang. and should you have to look like this to shop at amber krom bee and fitch. the ceo under fire for wanting
8:19am
to only sell to cool kids. [ male announcer ] hunt...farm...or trail... polaris has what you want. legendary atvs.. led by the powerful sportsman 850 ho. value-minded side-by-sides... featuring the new ranger 800 midsize. and full-size workhorses including the all-new, class-leading, 60-horsepower, ranger xp 900. polaris. hardest working, smoothest riding. huge rebates d low financing are available right now during the polaris xp sales event. and you'll dump your old duster. but don't worry, he'll find meone else. ♪ who's that lady? ♪ who's thalady? ♪ sexy la ♪ who's that lady? [ female announcer ] swiffer 360 duster extender cleans high and low, with thick all around fibers
8:20am
that attract and lock up to two times more dust than a feather duster. swiffer gives cleaning a whole new meaning. and now swiffer dusters refills are available with the fresh scent of gain. that work the way you wish they would. like a front-end loader you can detach from your seat? or a mower deck you just drive over and cut through knee-deep grass no problem? yep. we thought the same thing you did. that's why we build them this way.
8:21am
that's how we run. nothing runs like a deere. visit your dealer or johndeere.com/howwerun to see the new signature series and 1 family tractors. amber krom bow and fitch facing a back lash after the ceo.
8:22am
>> cool or not cool. ambercrombie and fitch ceo mike jeffrey regrets the comment he made to offend anybody. he is not apologizing it. that comment went viral again and so are the protest. what did he say. "in every school there is cool kids and popular kids and not so cool kids. candidly we go after the cool
8:23am
kids a lot of people don't belong and can't belong. they lack large and extra large". and this is classic mean girl behavior, right. but everybody is assuming it is a bad thing. i don't think so. i think everybody wants to be a part of the cool club and be part of the small group. this will boost sales for ambercrombie and among those cool kids. >> morgan, what do you think will this exclusively good for the company in >> it is a bad marketing. the company is biting off their nose to spite their face. one of the underserved market system plus side females and we are seeing their competiters and lucky brands and kardashians and the exclusive have running out larger sizes to accommodate
8:24am
plus- side females. nmike, there is some successful companies that base success on lock atative no. >> or armani. the stock is up since the ceo made the comments. there is something to be said for that. >> rick? >> what is not cool is mr. jeffries. my daughter is in great shape and very attractives and fits the customer of ambercrombie, she was so insulted by the comments. why? the eths on of the customer. they don't think it is cool to pick on larger sizes. >> that is a fair point. but this is a company that is pushing the boundaries with the clothing and remember the catalogs that are border line
8:25am
pornographic. >> they are edgy. and there is no question. >> they are look for example that edge to cope them up in sales. >> morgan, timing is everything. and in the '90s over size was in. and everybody wanted extra large and are they squeezing them in a fashion corner that they may want to get out of? >> i think they are. it goes back to the point i made. two-thirds of the americans are obese. over weight. >> not that bad. >> and the point is, you are talking about a huge portion of the population. and a huge buying demographic. >> hi priced jewelers cut out a large percentage. it is what you charge. >> and we have a big market to accommodate everybody. coming up, google shares topping
8:26am
$900. and the stocks that they say will be the next google. what are they? stick around and find out. why are twice as many people choosing verizon
8:27am
8:28am
over any other carrier? many choose us because we have the largest 4glte network. others, because of our reputation for reliability. or maybe it's because we've received jd power and associates' customer service award 4x in a row. in the end, there are . but one choice.
8:29am
>> we are back. goggle shares worth $900 each. our panel has the next google stock. union pacific. >> it is not as expensive as google. it has solid financials and in the last three years turned out 30 percent yearly growth. >> mike? >> this is a really, really well managed company, david and although the stocks had a run up. it is recentlily priced at this point. >> everybody agrees. and cubbis pharmaceutical. >> it makes drugs for skin and
8:30am
blood disease. >> you like it? >> yes, but remember the portfolio is concentrated. >> that's it for forbes on fox. erick boling next. >> bias against conservative and michelle bachmann is here. and the agency to enforce the health care laws. plus, help, help, shut your computer and turn off your phones, uncle sam is peeping on you. and invading the phone records and facebook accounts. all that and the government scandal that no one is talking aut